Want to know how to use a money line parlay calculator? You’re in the right place. Read our guide and see how this can take the pain out of one of the trickiest bets in sport!
Parlay betting is risky at best. But with a money line parlay calculator, you’ll get the perfect way to which selections to include and which to avoid. Plus our guide will help you spot when you might be getting too adventurous with your betting stakes. Take a look below and see how a money line parlay calculator works!
A money line parlay calculator is a piece of software that tells you how much you could expect to get paid if you won a money line parlay bet. You would feed certain information into the bet calculator regarding how many selections you were including, what the odds of the selections were, and what kind of betting stake you were putting down. The parlay bet calculator would then be able to tell you exactly what kind of return you’d expect to get.
A parlay bet calculator can be used for parlay bets on anything from a weekend in the NFL to a day of horse racing at Churchill Downs. While you might be looking for a money line parlay calculator, it’s important to note that most sports betting calculators should be up to the challenge of calculating payouts for parlay bets. You may have to manually switch the bet type to parlay, but from here, you should be able to add selections and then see what your parlay bet payout might be.
Why a money line parlay calculator is so essential
If you’ve ever tried betting on Las Vegas parlay odds, you’ll know that things can get complicated fast. Most of us can do some basic arithmetic working out the payout on a money line bet on decimal odds. However, things aren’t so easy when calculating payouts from bets in an American odds format. Plus when you start including multiple selections in your parlay bet, you’ll probably need a college degree in math just to get a rough idea of what your payout might be.
A good bet calculator will help you balance risk with return when you try parlay betting. It will quickly reveal when adding that extra selection has made your parlay bet virtually impossible to pull off. Or it could show you how the parlay odds are still respectable, and you could add another selection to get an even better payout.
If your 1st bet loses, get an equal free bet up to $1,000
Where to find a good money line parlay calculator
It shouldn’t take much more than a quick internet search to find a bet calculator that calculates payouts from parlay betting. However, be sure that you use a parlay bet calculator that includes your preferred odds format. Many bet calculators will only have fractional or decimal odds and will skip the American odds format. However, it’s also easy to do an internet search for an odds converter to give you a helping hand.
Plus we’d avoid using any parlay bet calculators that cost money to use. Pretty much all sports betting calculators should be free of charge. We should note that many online sportsbooks will include some kind of bet calculator that you can use for parlay betting. All of which means that you won’t have to look too hard to find out exactly what you’ll get from that winning parlay bet.
How to calculate parlay odds
Let’s start with the most simple kind of parlay bet. This involves seeing what a parlay 2 payout would look like. Here the parlay formula would be the odds of two selections multiplied together, and then that total would be multiplied by your betting stake.
Imagine that you put down a parlay bet on the weekend’s NFL action. Your parlay bet had two selections. These would be that Kansas City Chiefs would beat Green Bay Packers, and that San Francisco 49ers would beat New York Giants. The Chiefs were at odds of -110 to win, while the 49ers money line odds were -125.
These odds would combine together, and if you put down a $10 bet and won, you’d get a total return of $34.36. This would include your original $10 stake, as well as your total profit of $24.36.
An example of what a 3 team parlay payout would look like
The key thing about parlay betting is that it gets much more complicated with each selection that you add. Let’s stick with football betting, but try it in the decimal odds format on a three-selection parlay.
Here, you wanted to bet on the Dallas Cowboys, Chicago Bears and Atlanta Falcons to win their respective games. The teams’ individual odds were 2.00, 3.00 and 4.00 respectively. The total odds would combine to produce parlay odds of 24.00 (2 x 3 x 4). By winning this bet with a betting stake of $10, you’d get to take home $240 in winnings ($230 profit, plus your original $10 stake).
Using a 15 team parlay calculator and beyond
The above example of a three-leg parlay shows how the odds can quickly become very long. As a result, adding even more selections will frequently end up producing parlay bets that look near impossible to win. However, it is worth noting that there is nothing stopping you putting down as many selections as you want in your parlay bet.
The NBA currently has 30 teams in it, and you know that there will be plenty of people out there who will put down a 15-team money line parlay bet. However, even if each team was at money line odds of just 2.00, then the combined parlay odds would stack up to an astronomical 32,768.00. Sure, the potential payouts would be life-changing, but you’d probably have a greater chance of being struck by lightning. All of which shows just how important it is to use a parlay bet calculator to keep those odds as sensible as possible.
Try a Vegas parlay on your favorite sports
Once you know how to calculate a parlay, you’ll be ready to try this fun bet on all kinds of sports. It’s something that many sports fans will do on a big day in anything from the NBA and NFL to the NHL or MLB. Plus it has to be said that a parlay bet can be a great way to add some fun to a day’s horse racing anywhere from Belmont Park to Santa Anita.
Lots of sports fans will try parlay or accumulator betting on those major soccer leagues like the Premier League, MSL and La Liga. But the main thing to remember is to always try and keep the odds in your parlay bet as low as possible. The best way to do this is to only include real favorites in your parlay bet. The returns might not be quite so spectacular, but at least you’ll have a better chance of winning!
Get started using a money line parlay calculator
By now you’ll know that a money line parlay calculator is essential if you want to try this kind of bet. Not only will it help you understand what kinds of payout you can expect to get, but you’ll also learn just how risky you’re being with your parlay bets. As such, you’ll know whether you can afford to include more selections, or whether you’d be better served by playing it a little safer.
We’ve also shown how the mechanics behind parlay betting are actually pretty straightforward. Once you know what the 4 team parlay odds will be, you’ll be well-set to answer any questions about ‘What does a 5 team parlay pay?’ So while parlay betting is notoriously risky, it’ll all be made so much easier with a good money line parlay calculator.
Read our guide that clearly explains all of the main reasons why an odds calculator can be essential for all kinds of betting. We’ll reveal why a money line parlay calculator makes parlay betting so much easier. Plus you’ll learn how a bet calculator can be a big help in anything from a standard money line bet to something as complex as spread betting. All of which shows just how essential odds calculators are.
👀Where can I find a round robin parlay calculator?
Round robin parlay betting is great fun, but it can sometimes be hard to figure out what the overall odds will be and what kinds of returns you could expect to get. So be sure to read our guide that explains how a money line parlay calculator works and provides some tips on the best places to get these tools. A great way to figure out which selections to include in your next round robin parlay bet.
⭐How does a parlay probability calculator work?
At first, a money line parlay calculator looks like it works just as any regular sports betting calculator would. But check out our guide and we’ll examine how this kind of bet calculator might have plenty more features. This means that you could get help in figuring out what kind of stake to put down, what odds to include, and how many selections to have in your next parlay bet.
✅When are parlay odds too risky?
Check our guide to using a money line parlay calculator that will clearly indicate when your parlay bets might be getting too risky. Our guide covers the basics of parlay betting and reveals how a bet calculator can be used to only include those selections that keep the overall odds at a respectable level. Plus you’ll be able to see the potential payouts should you manage to win the parlay bet.
🏈What would a 20-team parlay payout be?
It depends on what kind of betting stake you are putting down, and what the odds of each of the selections in your parlay bet would be. This shows that there might be some complex arithmetic involved in figuring out what you’d get back from a 20-team parlay bet. Thankfully our US sports betting guide contains an excellent guide to using a money line parlay calculator. Perfect for seeing what that massive parlay bet might pay out.